Bottom line: Bullish until prices stay above 1.0927.
Technical outlook:
EURUSD is potentially developing into wave 3 towards 1.1145/1.1183 levels. Waves 1 and 2 terminated at 1.1110 and 1.0927 levels respectively as labelled here. Ideally, until prices stay above 1.0927 levels bullish scenario prevails in EURUSD. Immediate price support stays at 1.0927 with interim at 1.0990, while resistance is seen at 1.1110 respectively. The current price action is around 1.1015/20 and yet another dip lower towards 1.0965 cannot be ruled out. In short wave 2 of 3 is either terminated at 1.1000 or it is under way to terminate at 1.0965/70. The the structure is clear, another 5 waves rally towards 1.1183 can be expected. Trading point of view, please remain long from here and look to add further around 1.0965 levels, risk remains at 1.0927.
Trading plan:
Remain long now, stop at 1.0927, target is 1.1145 and 1.1183
